McLellan Realty
Listed by McLellan Realty
$2,600,000
Details
Property Type Mixed Use
Sub Type Commercial
Square Footage 4,800
Units 3
Cap Rate 6.70%
Stories 4
Zoning R6A (3.0) with C2-4 Overlay (2.0)
Mixed Use | 6.70% CAP | 4,800 SqFt
Marketing description
A 20’ wide three unit four story mixed-use building. The property has a store on the ground floor, which also occupies the basement. Floors two through four are each two-bedroom floor-through apartments.
The ground floor has 12’ ceilings and the upper floors each has 10’ ceilings. The units are individually metered for gas and electric. The meters, gas boiler and water heater are in the basement. The roof is rubber with silver coating and in good condition. The property gets great sunlight and is located in an area with lots of development.
The property is a prime investment opportunity, an investor can add value by renovating the apartments and giving each unit their own boiler and water heaters. An investor can also, expand the store to the lot line and duplex the top floor. The two-bedroom apartments can be converted into three-bedroom apartments. The zoning allows the second floor to be converted to commercial.
The building has a great location that has excellent commercial and residential exposure.
Franklin Avenue is one of the busiest street in Brooklyn, with all the fast food restaurants, banks, clothing stores health food stores.
The property is also a great user opportunity, a user can have a business on the ground floor and live in one of the units above and rent out the other apartments for income.
The ground floor has 12’ ceilings and the upper floors each has 10’ ceilings. The units are individually metered for gas and electric. The meters, gas boiler and water heater are in the basement. The roof is rubber with silver coating and in good condition. The property gets great sunlight and is located in an area with lots of development.
The property is a prime investment opportunity, an investor can add value by renovating the apartments and giving each unit their own boiler and water heaters. An investor can also, expand the store to the lot line and duplex the top floor. The two-bedroom apartments can be converted into three-bedroom apartments. The zoning allows the second floor to be converted to commercial.
The building has a great location that has excellent commercial and residential exposure.
Franklin Avenue is one of the busiest street in Brooklyn, with all the fast food restaurants, banks, clothing stores health food stores.
The property is also a great user opportunity, a user can have a business on the ground floor and live in one of the units above and rent out the other apartments for income.
Investment highlights
- Location: East side of Franklin Avenue Between Greene and Lexington Avenues
- Block: 1968
- Lot: 4
- Lot Size: 20' x 80'
- Building Size:
- Basement: ---20' x 50' = 1,000
- First Floor: ---20' x 50' = 1,000
- Second Floor:20' x 50' = 1,000
- Third Floor:---20' x 50' = 1,000
- Fourth Floor: 20' x 50' = 1,000
- Stories: Four
- Gross Square Feet: 4,000 appx
- Zoning: (FAR) R6A (3.0) with a C2-4 Overlay (2.0)
- Buildable Sq. Ft: 4,800
- Air Rights: 800 Sq. Ft
- Taxes: (23/24) $18,146.88
Listing Contacts
McLellan Realty
Listed by McLellan Realty
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